Description

SEBI issues a prohibitory order under Recovery Certificate No. 2199 of 2019 against Nagendra Komera in the matter of Exelon Infrastructure Ltd., restraining disposal of assets to recover dues.

Summary

SEBI has issued a prohibitory order against Nagendra Komera under Recovery Certificate No. 2199 of 2019, arising from enforcement proceedings in the matter of Exelon Infrastructure Ltd. The order prohibits the respondent from transferring, alienating, or disposing of assets pending recovery of dues owed to SEBI.

Key Points

  • Prohibitory order issued against Nagendra Komera under Recovery Certificate No. 2199 of 2019
  • Proceedings relate to the matter of Exelon Infrastructure Ltd.
  • The order is an enforcement mechanism to recover dues/penalties imposed by SEBI
  • Respondent is restrained from disposing of or encumbering assets
  • Recovery Certificate was originally issued in 2019; this order is part of ongoing enforcement

Regulatory Changes

No new regulatory changes. This is an enforcement action pursuant to existing SEBI recovery proceedings under the SEBI Act and applicable rules.

Compliance Requirements

  • Nagendra Komera must not transfer, alienate, dispose of, or encumber any assets subject to this prohibitory order
  • Banks, depositories, and financial institutions holding assets of the respondent may be directed to freeze accounts or securities as applicable
  • Non-compliance with the prohibitory order may attract further enforcement action

Important Dates

  • Recovery Certificate No. 2199 originally issued: 2019
  • Prohibitory order date: March 12, 2026

Impact Assessment

This order has minimal broader market impact as it is directed at a specific individual (Nagendra Komera) in connection with the Exelon Infrastructure Ltd. matter. It is a routine enforcement/recovery action by SEBI to ensure payment of outstanding dues. No impact on general market participants, trading operations, or listed entities beyond the named respondent.

Impact Justification

Individual enforcement action via prohibitory order on a specific defaulter's assets under a 2019 recovery certificate; no broad market or regulatory policy impact.